(1) Any governmental unit by act of its legislative body, or any two (2) or more governmental units acting jointly by acts of their legislative bodies, and with the approval of the Transportation Cabinet, Office of the Secretary, may establish a developmental riverport authority to be composed of six (6) members. (2) The authority shall be a body politic and corporate with the usual corporate attributes, and in its corporate name may sue and be sued, contract and be contracted with and do all things reasonable or necessary to effectively carry out the powers and duties prescribed by KRS 65.510 to 65.650. The authority may exercise all powers granted to governmental agencies by KRS 58.010 to 58.140. The authority may exercise all powers, consistent with its powe rs and duties stated in this chapter, granted by KRS 273.171 to corporations governed by KRS 273.161 to 273.390. (3) The responsibility for riverports shall be established within the Transportation Cabinet to provide oversight on development activities inv olving riverport authorities. The cabinet shall be responsible for managing a study that will develop a long-range capital improvements plan for Kentucky's riverports that shall include, but not be limited to: (a) Guidelines for ground transportation access to riverports; (b) A model for determining the economic impact of riverports; and (c) A blueprint for creating long-term funding mechanisms for riverports.
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